Multibagger penny stock under Rs 50 in focus as company executes 3.3-MW wind power project with Opera Energy Private Limited
From Rs 7.19 per share to Rs 49 per share, the stock gave multibagger returns of over 500 per cent in just 3 years.
Rudra Global Infra Products Limited has made significant strides in its renewable energy journey. On December 11, 2024, the company executed a Letter of Intent (LoI) with M/s. Opera Energy Private Limited (OEPL) for the supply and installation of a 3.3 MW Wind Power Project. This strategic partnership marks a crucial step towards the company's goal of transitioning to 100% renewable energy.
The 3.3 MW Wind Power Project, slated for commissioning before March 20, 2025, is estimated to cost Rs. 32.28 Crore. The project scope encompasses the supply of Wind Turbine Generators (WTGs), unit substations with transformers, logistics, transit insurance, and supervision of erection and commissioning. The proposed site for this project is Kalawad Jamnagar Site, District – Jamnagar, Gujarat. While this is a significant milestone, the company is actively exploring additional renewable energy opportunities, particularly in solar power, aligning with both state and central government policies.
On Thursday, shares of Rudra Global Infra Products Ltd gained 1.80 per cent to an intraday high of Rs 49 per share from its previous closing of Rs 48.13 per share. The stock’s 52-week high is Rs 75 per share and its 52-week low is Rs 30.70 per share.
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Rudra Global Infra Products Ltd was started in 1991 with a steel re-rolling mill in Gujarat having a capacity of 1000 MT per month. Today, it is engaged in various businesses like ship recycling, oxygen plants, induction furnaces and re-rolling mills producing more than 3 lakh MT per annum of steel.
Talking about the financials, Rudhra Global has a market cap of Rs 489 crore. According to the Quarterly Results, the net sales decreased by 13.4 per cent to Rs 116.95 crore, operating profit decreased by 13.2 per cent to Rs 11.54 crore and net profit decreased by 37.4 per cent to Rs 4.84 crore in Q2FY25 compared to Q2FY24. In FY24, the net sales increased by 23.1 per cent to Rs 555.97 crore and net profit increased by 49.6 per cent to Rs 20.76 crore compared to FY23.
The stock is up by 60 per cent from its 52-week low of Rs 30.70 per share. From Rs 7.19 per share to Rs 49 per share, the stock gave multibagger returns of over 500 per cent in just 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.